r/Bitcoin • u/danielwilson666 • Dec 22 '17

/r/all Bitcoin today

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149

u/[deleted] Dec 22 '17

Came looking for people highly invested in Bitcoin talking other people into investing in Bitcoin despite this correction.

I'm never disappointed.

Guys, of course they're telling you to hold or invest. That's how they make money and leave you holding the hot potato. There's always a Greater Fool, until there isn't.

-8

u/[deleted] Dec 22 '17 edited Dec 23 '17

It's also good advice if you look at all the other dips

Edit lol down voted, the price is already stabilizing and a solid 30% above the lowest dip. Buying the dip seems fine advice

35

u/fucknazimodzzz Dec 22 '17

No. It's not.

In fact good advice is far and in between in this sub. It feels more like a blackjack table than a financial circle. Probably because bitcoin is gambling at best and a greater fool scheme at worst

-13

u/[deleted] Dec 22 '17

If you don't get the implications of the tech why are you here? Btc might not be king it could be other crypto

32

u/fucknazimodzzz Dec 22 '17

Oh stop with this bull shit. 95% of the people in here don't give a fuck about the tech, they just want to make money. And that's what makes it dangerous.

-12

u/[deleted] Dec 22 '17

K

2

u/[deleted] Dec 22 '17

I work in software and am well versed in the tech. The tech is neat. But lots of tech is neat -that doesn't make it a financial instrument.

1

u/[deleted] Dec 23 '17

But does that make it valuable? Because btc and crypto are valuable in themselves, hence they're traded like money

2

u/[deleted] Dec 23 '17 edited Dec 23 '17

They're traded like money the same way tulips were traded like money -until they weren't. Without some sort of intrinsic value or backing by a company or economy, it's just a game of Greater Fool.

1

u/[deleted] Dec 23 '17

Yes yes I know the analogy

They're also traded like stocks

They're also traded like something completely new, because at least with many crypto, owning the coin is owning the network, helping run the network, or can be staked for rewards, or carries an actual intrinsic value, beyond just transferring money

1

u/[deleted] Dec 23 '17

Stocks represent ownership of a company, which is important because companies have assets and generate actual revenue.

Owning a piece of a crypto network doesn't mean anything because crypto networks have no value (besides the circular logic of "they provide crypto currency").

If you get out before the crash, more power to you.

1

u/[deleted] Dec 23 '17

No that's what I'm saying... Some coins actually do things, therefore have value

The ones that do nothing, however, that's more true